The reason is pretty simple, even if no one's really talking about: luxury watch sales are in a downward trajectory. Exports from Switzerland fell in 2015 for the first time since 2009, and are down 11.1% when comparing year over year in April, according to the Federation of the Swiss Watch Industry.

Most of this depressed demand was caused by a troubled Europe, changing Chinese tastes, low oil prices, and a strong Swiss Franc, Clerizo says. But that translates to good news for North American buyers looking to pick up a watch while watchmaker's inventories are building up to intolerable levels.

Of course, don't expect any bargain basement deals. We're dealing more in the 5-7% discount range, but at the prices these watches retail for ($5,000 and up), that discount can still translate to hundreds of dollars.

Don't expect prices to go down much further, though. After all, there's a reason these watches are so expensive, and they must retain their allure as luxury status symbols at least mostly out of the reach of a large segment of consumers.